Apple Shares Tumble on Siri Delay, Regulatory Inquiry

Apple shares fell sharply Thursday, marking the stock’s steepest single-day decline since April. The 5% drop erased the company’s gains for the year, leaving its 2026 performance down nearly 4%. The sell-off followed two significant developments.

Internally, Apple has reportedly delayed a major AI overhaul for its Siri voice assistant. According to a Bloomberg report, the update, anticipated for imminent release, has been pushed to May or later. Sources indicate the features may now be introduced gradually over several months. Apple maintains to CNBC that its plans for a 2026 launch remain intact.

Simultaneously, regulatory pressure intensified. Federal Trade Commission Chair Andrew Ferguson sent a directive to CEO Tim Cook, calling for a review of the Apple News service’s terms and editorial curation. Ferguson referenced allegations that the platform favors left-leaning outlets and limits conservative perspectives.

The downturn contrasts with Apple’s strong first-quarter earnings last month, which surpassed analyst forecasts. Recently, however, investor sentiment has soured on major tech firms amid concerns over soaring AI-related capital expenditures. A sector-wide caution was underscored Tuesday when UBS downgraded U.S. tech to neutral, pointing to ‘software uncertainty’ and heavy spending, triggering a broader software stock retreat.

Source: CNBC